Morocco’s Alaouite royal family has seen a significant increase in the market value of their stake in Attijariwafa Bank over the past 10 days as value investors continue to acquire stakes in the country’s leading financial services firm.
According to data tracked by Billionaires.Africa, the market value of the Alaouite royal family’s stake in Attijariwafa Bank has surged by MAD1.59 billion ($158.23 million) in the last 10 days. This uptick is credited to renewed buying interest, driving the bank’s shares above key technical levels on the Casablanca bourse.
Attijariwafa Bank’s 3.31-percent share surge, market cap exceeds $10 billion
Attijariwafa Bank, Morocco’s largest bank and the fifth-largest in Africa, boasts a century of expertise and a global presence with 20,125 employees across 25 countries. Headquartered in Rabat, the bank serves a diverse clientele of 10 million retail, professional, corporate, and institutional customers.
Notably, the bank’s shares on the Casablanca Stock Exchange recently saw a 3.31-percent increase, climbing from MAD480.5 ($47.752) on Jan. 29 to MAD496.4 ($49.33). This uptick propelled the market capitalization beyond $10 billion at the time of this report, translating into significant financial gains for its shareholders, amounting to millions of dollars.
Alaouite royal family’s investment in Attijariwafa Bank approaches $5 billion
Morocco’s Alaouite royal family, holding a 46.5-percent stake in the financial services group through Societe Nationale d’Investissement (Al Mada), a private equity firm with active investments in key sectors of Africa’s economy, experienced a boost in their stake’s market value.
With a single-digit percentage increase in the group’s share price, the royal family’s stake rose by MAD1.59 billion ($158.23 million), jumping from MAD 48.11 billion ($4.78 billion) on Jan. 29 to MAD 49.71 billion ($4.94 billion) at present.
This recent $158.2 million surge highlights the Alaouite royal family’s influential position among Morocco’s wealthiest families, emphasizing their enduring impact on the nation’s economic landscape.
